Integrated Wellness Acquisition in a preliminary proxy seeks shareholder approval to move its completion deadline from Dec. 13 to June 13, 2024. The sponsor would make contributions to the trust if the extension is approved, although the amount of the deposits has not yet been announced.
A favorable extension vote in June still saw redemptions hit 53%, leaving the SPAC with not-quite $59 million in trust.
The SPAC in September said it terminated a merger agreement with Refreshing USA. The deal was announced in February at an implied pro-forma enterprise value of approximately $198 million.
The SPAC said conditions to the closing were not satisfied or waived by the July 31 outside date.
Refreshing USA offers vending services, primarily snacks and coffee vending machines for workplace use. Read more.
